Sawgrass Asset Management LLC Reduces Stake in The Home Depot, Inc. (NYSE:HD)

Sawgrass Asset Management LLC reduced its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 4.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,232 shares of the home improvement retailer's stock after selling 1,575 shares during the quarter. Home Depot comprises about 1.6% of Sawgrass Asset Management LLC's portfolio, making the stock its 16th largest holding. Sawgrass Asset Management LLC's holdings in Home Depot were worth $12,912,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of HD. Vanguard Group Inc. increased its holdings in shares of Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after purchasing an additional 875,836 shares during the period. Geode Capital Management LLC boosted its position in Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock valued at $8,525,046,000 after buying an additional 257,036 shares during the last quarter. Norges Bank acquired a new position in Home Depot in the 4th quarter worth approximately $5,032,910,000. Capital Research Global Investors raised its position in Home Depot by 5.5% during the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock worth $4,845,098,000 after buying an additional 647,552 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after acquiring an additional 1,424,857 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HD has been the topic of a number of research reports. Robert W. Baird cut their price objective on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. DA Davidson reduced their price objective on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Sanford C. Bernstein reissued a "market perform" rating and issued a $398.00 price objective (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Truist Financial raised their target price on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Finally, Guggenheim reissued a "buy" rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president now directly owns 17,367 shares of the company's stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Home Depot Trading Up 0.5%

Shares of HD stock traded up $1.84 on Thursday, hitting $363.70. The stock had a trading volume of 3,184,311 shares, compared to its average volume of 3,421,245. The company's 50 day moving average price is $363.28 and its 200-day moving average price is $378.21. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The firm has a market capitalization of $361.85 billion, a P/E ratio of 24.67, a P/E/G ratio of 3.44 and a beta of 1.02.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. During the same quarter last year, the company earned $3.63 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.53%. Home Depot's dividend payout ratio is presently 62.42%.

Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.